InSb colloid quantum dots (CQDs) are liquid “green” semiconductor materials. Their band gaps can be readily adjusted by controlling their particle size. Their excellent photoelectric properties and non‐toxic properties render them highly suitable for the fabrication of low‐cost infrared photodetectors and image sensors in industrial and consumer electronics applications. Despite the concept and preparation of InSb CQDs having been reported for decades, the performance of InSb CQDs‐based photodetectors still lags behind that of their toxic PbS CQDs‐based counterparts. This is mainly due to the immature synthesis process and the lack of sufficient device research. Fortunately, significant advances have been made in the synthesis of InSb CQDs and ligand exchange strategies over the past three years, resulting in notable enhancements in device performance. This review presents a summary of the recent advances in InSb CQDs and their applications in photodetectors. A particular focus is placed on the development of controllable synthesis routes for high‐quality InSb CQDs, which represents a significant challenge due to the high valence nature of InSb. Furthermore, the performance of these devices is discussed in detail, with a particular focus on ligand exchange and surface treatment strategies. Finally, a brief summary and outlook on InSb CQDs‐based photodetectors is presented.